UFP Technologies (NASDAQ:UFPT) Reaches New 1-Year High at $336.79

UFP Technologies, Inc. (NASDAQ:UFPT) hit a new 52-week high during trading on Friday . The company traded as high as $336.79 and last traded at $336.79, with a volume of 12205 shares traded. The stock had previously closed at $321.96.

Analysts Set New Price Targets

Separately, Lake Street Capital boosted their target price on shares of UFP Technologies from $344.00 to $392.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th.

UFP Technologies Price Performance

The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2.58 billion, a PE ratio of 54.13 and a beta of 0.95. The stock has a 50-day moving average price of $301.39 and a 200 day moving average price of $254.86.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.86 EPS for the quarter. The company had revenue of $110.18 million during the quarter. UFP Technologies had a net margin of 11.87% and a return on equity of 17.53%.

Insider Buying and Selling

In related news, CFO Ronald J. Lataille sold 4,798 shares of UFP Technologies stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $330.44, for a total value of $1,585,451.12. Following the sale, the chief financial officer now directly owns 41,332 shares in the company, valued at approximately $13,657,746.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other UFP Technologies news, CFO Ronald J. Lataille sold 4,798 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $330.44, for a total value of $1,585,451.12. Following the transaction, the chief financial officer now owns 41,332 shares in the company, valued at approximately $13,657,746.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Jeffrey Bailly sold 1,083 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $310.36, for a total transaction of $336,119.88. Following the sale, the chief executive officer now directly owns 139,341 shares of the company’s stock, valued at approximately $43,245,872.76. The disclosure for this sale can be found here. Insiders sold a total of 65,742 shares of company stock worth $20,707,183 in the last 90 days. Insiders own 6.17% of the company’s stock.

Institutional Investors Weigh In On UFP Technologies

A number of large investors have recently made changes to their positions in UFPT. Select Equity Group L.P. lifted its position in UFP Technologies by 37.5% during the second quarter. Select Equity Group L.P. now owns 5,246 shares of the industrial products company’s stock worth $1,384,000 after buying an additional 1,430 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of UFP Technologies by 14.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,151 shares of the industrial products company’s stock worth $1,095,000 after acquiring an additional 518 shares during the period. Millennium Management LLC boosted its position in shares of UFP Technologies by 78.8% during the 2nd quarter. Millennium Management LLC now owns 26,706 shares of the industrial products company’s stock valued at $7,047,000 after acquiring an additional 11,767 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of UFP Technologies in the second quarter valued at about $207,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in UFP Technologies during the second quarter worth about $36,000. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

UFP Technologies Company Profile

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.